Forex Blog
Blog-FX.Com

• Rouble is losing positions again in pairing with USD and EUR [11/10/2011]
• NZD: New Zealand Dollar is descending [11/10/2011]
• AUD: sales of Australian Dollar do not subside [11/10/2011]
• JPY: Japanese Yen remains in the narrow trade range [11/10/2011]

AUD: Australian Dollar is in sale again

The Australian Dollar rate resumed its decline at the Forex currency market on Thursday.

Forex forecast: MACD indicator for the pair AUD/USD continues to be upon the signal line, not giving a clear signal. Stochastic oscillator is giving a pair sell signal, being in the neutral zone.

Forex recommendations: if bearish sentiment for the pair will be maintained and in case of breakdown at the level of 0.9900 the pair will go to 0.9850 and 0.9800.

The news about downgrading of Japan to the level of –AA has become a negative factor for the Australian currency. Drastic sale, caused by unfavourable news, have indicated once again general instability in the pair AUD/USD. .  We would remind that the following data was released earlier: consumer prices index in QIV (+0.4% q/q (+2.7% y/y) against the forecast of +0.7% q/q); traders felt disappointed and the AUD went down.

The meeting of the Reserve Bank of Australia is scheduled for 31 January and market will carefully wait for the comments of the RBA head, as the AUD future will depend on them in the short term.  Interest rate in Australia is at the level of 4.75% per annum.  RBA meetings in 2011 are scheduled for: 31 January, 28 February, 4 April, 2 may, 6 June, 4 July, 1 August, 5 September, 3 October, 31 October, 5 December.

Note, that despite complicated situation in the Australian economy due to the flooding, authorities of the country face the future with optimism: according to Minister of Finance of the country Mr. Swan, CPI will show increase in QI of this year due to the growing dynamics of prices for food.

As it became known on Monday morning, PPI index in Australia increased by 0.1% on quarterly basis (+2.7% y/y) in QIV. Earlier statistics was multifarious. Thus, import and export prices in Australia fell by 8.1% and 3.8% respectively. However, level of consumer confidence in Australia is estimated not so unequivocally; according to ANZ, consumer confidence in Australia amounted to 117 points in January against the level of 112.2 n December. It is interesting that, as per official data, index of consumer sentiment in Australia fell by 5.7% in January against the growth by 0.2% in December, mostly due to the flooding in the country.

In general, medium term trend for the AUD is downward.

[More]
Tags:
Tags Cloud: relevant equation anticipated secure spanish dollars barclays fx trading system level real best forex trading